8 replies to this topic

[Mxmann]

Can someone explain why,we might need to set up a Warka account?

[MoonRover]

I don't believe you need an account. Money is money and when it is time to trade it in most banks willl accept it... MHO

[one2one]

hardly anyone here has anything good to say about Warka :

nearly impossible to withdraw your money--if you wanted to

[Mxmann]

Thanks guys! I don't have a warka account, and don't think I'm gonna get one, specially since it sounds like CBI can interact electronically now!

[2fast4u2c]

I sold all of my hard IQD and opened a Warka account. Warka is sketchy but so is this whole investment. My fear was that they will close the border when they RV/RD or whatever they deicde to do.

BTW...I am earning 10.5% on my money in Warka...if I can ever get it out. lol

[Goodlife]

I sold all of my hard IQD and opened a Warka account. Warka is sketchy but so is this whole investment. My fear was that they will close the border when they RV/RD or whatever they deicde to do.

BTW...I am earning 10.5% on my money in Warka...if I can ever get it out. lol

My advice is not to use long term CDs as to the best of my knowledge you cannot access the funds to shift into US funds if it RVs. This is especially important if the RV isnt sustainable, looses ground and the gain cannot be held in the transfer to US funds within your online account.
Applications can be made to warka to break the CD but I believe all interest is lost. And they could take forever and the opportunity may be missed.
I haven't had any term deposits longer than 6 months. Keeping it on float at the moment so I have access. I Consider the Late August /sept period a RV window but also see volatility in the IQD so it would be a very good idea to pay close attention if it starts to slide after any form of RV. Not expecting a big one first time round
Thats my opinion for what its worth

[Bristin]

My advice is not to use long term CDs as to the best of my knowledge you cannot access the funds to shift into US funds if it RVs. This is especially important if the RV isnt sustainable, looses ground and the gain cannot be held in the transfer to US funds within your online account.
Applications can be made to warka to break the CD but I believe all interest is lost. And they could take forever and the opportunity may be missed.
I haven't had any term deposits longer than 6 months. Keeping it on float at the moment so I have access. I Consider the Late August /sept period a RV window but also see volatility in the IQD so it would be a very good idea to pay close attention if it starts to slide after any form of RV. Not expecting a big one first time round
Thats my opinion for what its worth

A agree with your analysis because it is consistent with my risk tolerance.

I have CDs of 3 and 6 months that expire at different times. The ultimate difference in interest return between them is not that great.

As each CD expires, I evaluate the situation and roll them over for 3 or 6 months. Going out a year is filled with to many unknowns for me and is therefore an unacceptable risk, especially since I can get most of what I want with 3 and 6 month CDs.

I also figure in the need to have available IQD for stock purchases if the time becomes right and the risk acceptable to me.

In any event, my plan is to have all of the CDs expired and back into the IQD account before January 1, 2013. Then I will decided what to do next.

January 1 seems to be a very important date and I want all of my options open.

Like any investment, decisons must be made based on what you don't know and your tolerance for risk. Thus, it become a matter of managing your acceptable risk based on the unknowns.

What is right for me may not be right for someone else and vice versa. Each of us have different expectations and willingness to take risks.

Thus, I don't criticize anyone's decisons even thought it may not be what I would have done.

Good luck to all.

[2fast4u2c]

I have shorter term CD's as well, however I am willing to take my chances. After all - it's all a risk.

Thank you for your input.

[Bryanrobh]

I have opened a Warka bank account and put in a wire for $500.00 to see if I can get money in there. How would I go about checking if the wire has landed and credited to my account?